Eligible Repurchase Program definition

Eligible Repurchase Program means, at any time, a Repurchase Program (as defined in this Supplement) offered by an Eligible Repurchase Manufacturer (a) pursuant to which the Repurchase Price (or the price guaranteed to be received at an auction conducted by or within the requirements established by such Manufacturer) is at least equal to the Capitalized Cost of each Group III Vehicle, minus all Depreciation Charges accrued with respect to such Group III Vehicle prior to the date that the Group III Vehicle is submitted for repurchase or auction, minus Excess Mileage Charges, minus Excess Damage Charges and minus any other charges specified in such Repurchase Program, (b) that cannot be amended or terminated with respect to any Group III Vehicle after the purchase of that Group III Vehicle, and (c) with respect to any Group III Repurchase Vehicle of such Manufacturer that is leased or proposed to be leased under the Group III Master Lease, the benefits of which Repurchase Program have been collaterally assigned to the Trustee pursuant to an Assignment Agreement acknowledged in writing by such Manufacturer and applicable to the model year of such Group III Repurchase Vehicle, and TFFC (and the Trustee on behalf of TFFC) has been provided with an opinion of counsel or officer's certificate reasonably satisfactory to the Trustee that the Trustee and TFFC can enforce the applicable Manufacturer's obligations thereunder; provided, however, that with respect to a Repurchase Program for any model year beginning with 2000 and thereafter, if any Group III Series of Notes is then being rated by Standard & Poor's or Moodx'x, XXFC shall have received (i) confirmation by Standard & Poor's or Moodx'x, xx the case may be, that the acquisition of Group III Vehicles pursuant to such Repurchase Program will not result in the reduction or withdrawal of any rating issued by Standard & Poor's or Moodx'x xx respect of such Series of Notes, and (ii) if there is a major change to a Repurchase Program during a model year, Rating Agency Confirmation that the acquisition of Group III Vehicles pursuant to such Repurchase Program will not result in a reduction or withdrawal of any rating issued by each Rating Agency in respect of such Series of Notes.
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Eligible Repurchase Program means a repurchase program or guaranteed depreciation program (a) of an Eligible Manufacturer, (b) pursuant to which the repurchase price (or the price guaranteed to be received at auction) is at least equal to the Capitalized Cost of each vehicle, minus all Depreciation Charges accrued with respect to such vehicle prior to the date that the vehicle is submitted for repurchase or auction, minus Excess Mileage Charges, Excess Damage Charges and any other charges specified in such program, (c) that cannot be amended or terminated with respect to any vehicle after the purchase of that vehicle, (d) with respect to which a Manufacturer Event of Default has not occurred which is continuing, (e) the terms of which are otherwise acceptable to the Administrative Agent, and (f) the benefits of which have been collaterally assigned to the Collateral Agent by an agreement acknowledged in writing by the related Manufacturer and TFFC and the Collateral Agent have been provided with an opinion of counsel or, if agreed by the Administrative Agent, a certificate of an officer of the Manufacturer, in form and substance reasonably satisfactory to such parties, that TFFC and the Collateral Agent can enforce the applicable Manufacturer's obligations thereunder.
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Eligible Repurchase Program means, at any time, a Repurchase Program offered by an Eligible Repurchase Manufacturer or Eligible Type II Repurchase Manufacturer (a) pursuant to which the Repurchase Price (or the price guaranteed to be received at an auction conducted by or within the requirements established by the Manufacturer) is at least equal to the Capitalized Cost of each Group V Vehicle, minus all Depreciation Charges accrued with respect to such Group V Vehicle prior to the date that the Group V Vehicle is submitted for repurchase, minus Excess Mileage Charges, minus Excess Damage Charges and minus any other charges specified in such Repurchase Program, (b) that cannot be amended or terminated with respect to any Group V Vehicle after the purchase of that Group V Vehicle, and (c) the collateral assignment of the benefits of which to the Trustee has been on or prior to the 30th day after the date hereof acknowledged in writing by the related Manufacturer pursuant to an Assignment Agreement, and TFFC (and the Trustee on behalf of TFFC) has been provided on or prior to the 30th day after the date hereof with an officer's certificate or opinion of counsel reasonably satisfactory to the Trustee and each Rating Agency that TFFC (and the Trustee on behalf of TFFC) can enforce the applicable Manufacturer's obligations thereunder; provided, however, that with respect to a Repurchase Program for any model year beginning with 2002 and thereafter, (i) TFFC shall have obtained (and delivered to the Trustee) Rating Agency Confirmation with respect to the acquisition of Group V Vehicles of such model year pursuant to such Repurchase Program and (ii) in the event there is a major change to a Repurchase Program during a model year, Rating Agency Confirmation with respect to the acquisition of Group V Vehicles pursuant to such Repurchase Program.
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Examples of Eligible Repurchase Program in a sentence

  • If such Vehicle is to be leased as a Group IV Repurchase Vehicle, the Lessor shall have delivered to the Trustee (i) a fully executed Assignment Agreement covering such Vehicle, (ii) the related Repurchase Program (which shall be an Eligible Repurchase Program), and (iii) any other Group IV Collateral relating to such Vehicle.

  • Subject to the provisions of Section 21 hereof (regarding Eligibility Waiver Events), any member of the Lessee Group that places a Vehicle Order for a Repurchase Vehicle pursuant to this Agreement agrees that all Repurchase Vehicles ordered as provided herein shall be ordered utilizing the procedures consistent with the applicable Eligible Repurchase Program.

  • Each Lessee will comply with the requirements of law and, with respect to Group III Repurchase Vehicles, the requirements of the Repurchase Programs in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary in connection with the sale of any Group III Vehicle to a third party or the return of any Group III Repurchase Vehicle in accordance with an Eligible Repurchase Program.

  • Any member of the Lessee Group that places a Group II Vehicle Order for a Group II Repurchase Vehicle pursuant to this Agreement agrees that all Group II Repurchase Vehicles ordered as provided herein shall be ordered utilizing the procedures consistent with the applicable Eligible Repurchase Program.

  • This Agreement, together with any other related documents attached to this Agreement or submitted with a Series 1996-1 Vehicle Order, including without limitation any documents in connection with an Eligible Repurchase Program (collectively, the "Supplemental Documents"), will constitute the entire agreement regarding the leasing of Vehicles that are Manufacturer Acquired Vehicles by the Lessor to the Lessees.

  • Each Lessee will comply with the requirements of law and the requirements of the Repurchase Programs, with respect to Repurchase Vehicles, in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary in connection with the sale of any Vehicle to a third party or return of such Vehicle in accordance with an Eligible Repurchase Program.

  • Subject to the provisions of Section 21 hereof regarding Eligibility Waiver Events), any member of the Lessee Group that places a Vehicle Order pursuant to this Agreement agrees that all Vehicles ordered as provided herein shall be ordered utilizing the procedures consistent with an Eligible Repurchase Program.

  • Any member of the Lessee Group that places a Group III Vehicle Order for a Group III Repurchase Vehicle pursuant to this Agreement agrees that all Group III Repurchase Vehicles ordered as provided herein shall be ordered utilizing the procedures consistent with the applicable Eligible Repurchase Program.

  • Any member of the Lessee Group that places a Group IV Vehicle Order for a Group IV Repurchase Vehicle pursuant to this Agreement agrees that all Group IV Repurchase Vehicles ordered as provided herein shall be ordered utilizing the procedures consistent with the applicable Eligible Repurchase Program.

  • Each Lessee will comply with the requirements of law and the requirements of the Repurchase Programs in connection with, among other things, the delivery of Certificates of Title and documents of transfer signed as necessary in connection with the sale of any Group II Vehicle to a third party or the return of any Group II Repurchase Vehicle in accordance with an Eligible Repurchase Program.


More Definitions of Eligible Repurchase Program

Eligible Repurchase Program means, at any time, a Repurchase Program offered by an Eligible Manufacturer (a) pursuant to which the Repurchase Price (or the price guaranteed to be received at an auction conducted by or under the control of the Eligible Manufacturer) is at least equal to the Capitalized Cost of each Vehicle, minus all Depreciation Charges accrued with respect to such Vehicle prior to the date that the Vehicle is submitted for repurchase, minus Excess Mileage Charges, minus Excess Damage Charges and minus any other charges specified in such Repurchase Program, (b) that cannot be amended or terminated with respect to any Vehicle after the purchase of that Vehicle, and (c) the collateral assignment of the benefits of which to the Trustee has been acknowledged in writing by the related Manufacturer pursuant to an Assignment Agreement, and TFFC (and the Trustee on behalf of TFFC) has been provided with an opinion of counsel reasonably satisfactory to the Trustee that TFFC (and the Trustee on behalf of TFFC) can enforce the applicable Manufacturer's obligations thereunder; provided, however, that with respect to a Repurchase Program for any model year beginning with 1996 and thereafter, if the Series 1996-1 Notes are then being rated by Standard & Poor's or DCR, TFFC shall have received (i) confirmation by Standard & Poor's or DCR, as the case may be, that the acquisition of Vehicles pursuant to such Repurchase Program will not result in the reduction or withdrawal of any rating issued by Standard & Poor's or DCR in respect of such Series of Notes, and (ii) if there is a major change to a Repurchase Program during a model year, a written confirmation from each Rating Agency that the acquisition of Vehicles pursuant to such Repurchase program will not result in a reduction or withdrawal of any rating issued by each Rating Agency in respect of such Series of Notes.
Sample 1
Eligible Repurchase Program means, at any time, a Repurchase Program (as defined in this Supplement) offered by an Eligible Manufacturer and currently in effect (a) pursuant to which the Repurchase Price (or the price guaranteed to be received at an auction conducted by or within the requirements established by the Eligible Manufacturer) is at least equal to the Capitalized Cost of each vehicle, minus all Depreciation Charges accrued with respect to such Vehicle prior to the date that the vehicle is submitted for repurchase, minus Excess Mileage Charges, minus Excess Damage Charges and minus any other charges specified in such Repurchase Program, (b) that cannot be amended or terminated with respect to any Vehicle after the purchase of that Vehicle, and (c) if such date of determination of eligibility is on or after May 29, 1997, the benefits of which have been collaterally assigned to the Trustee or to the Master Collateral Agent, pursuant to an Assignment Agreement acknowledged in writing by the related Manufacturer, and TFFC (and the Trustee on behalf of TFFC) has been provided (if such date of determination of eligibility is on or after May 29, 1997) with an opinion of counsel reasonably satisfactory to the Trustee that the Master Collateral Agent of behalf of the Trustee and TFFC can enforce the applicable Manufacturer's obligations thereunder; provided, however, that with respect to a Repurchase Program for any model year beginning with 1998 and thereafter, if the
Sample 1
Eligible Repurchase Program means, at any time, a Repurchase Program (as defined in this Supplement) offered by an Eligible Type I Repurchase Manufacturer or Eligible Type II Repurchase Manufacturer (a) pursuant to which the Repurchase Price (or the price guaranteed to be received at an auction conducted by or within the requirements established by such Manufacturer) is at least equal to the Capitalized Cost of each Group IV Repurchase Vehicle, minus all Depreciation Charges accrued with respect to such Group IV Vehicle prior to the date that the Group IV Vehicle is submitted for repurchase or auction, minus Excess Mileage Charges, minus Excess Damage Charges and minus
Sample 1
Eligible Repurchase Program means, at any time, a Repurchase Program that is in full force and effect with an Eligible Manufacturer (a) pursuant to which the Repurchase Price is at least equal to (i) with respect to GM's Matrix Repurchase Program, a specified percentage of the Capitalized Cost of each Vehicle, such percentage being determined for each Vehicle based upon the model year of such Vehicle and the calendar month in which such Vehicle is returned to GM, minus (A) Excess Mileage Charges, (B) Excess Damage Charges and (C) Missing Equipment Charges, or (ii) with respect to any other Manufacturer or any other Repurchase Program of GM, the Capitalized Cost of each Vehicle, minus (A) all Depreciation Charges accrued with respect to such Vehicle prior to the date that the Vehicle is submitted for repurchase, (B) Excess Mileage Charges, (C) Excess Damage Charges and (D) Missing Equipment Charges, (b) that cannot be amended or terminated with respect to any Vehicle after the purchase of that Vehicle, and (c) under which, with respect to Acquired Vehicles, NFLP is an Authorized Fleet Purchaser or, with respect to Financed Vehicles, National is an Authorized Fleet Purchaser and, in each case, the assignment of the benefits of which to the Master Collateral Agent for the benefit of the Trustee (on behalf of the Series 1996-2 Noteholder) and the NFC Collateral Agent (on behalf of the NFC Secured Parties) has been acknowledged in writing by the related Manufacturer, and NFLP, the Master Collateral Agent, the Trustee and the NFC Collateral Agent have been provided with an opinion of counsel reasonably satisfactory to them that NFLP (and the Master Collateral Agent on behalf of NFLP, the Trustee and the NFC Collateral Agent) can enforce the applicable Manufacturer's obligations thereunder; provided that (a) with respect to any new Repurchase Program (including a new model year Repurchase Program of an Eligible Manufacturer and a Repurchase Program of a new Manufacturer) that is proposed for consideration after the date hereof as an Eligible Repurchase Program, prior to such new Repurchase Program constituting an "Eligible Repurchase Program" hereunder, the Rating Agencies have been given 30 days notice (or such shorter period of time as shall be acceptable to the Rating Agencies) of a draft of such new Repurchase Program as it then exists at the time of such notice (and shall be provided a final copy of such Repurchase Program promptly upon its being available) and shall have consented to ...
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Related to Eligible Repurchase Program

  • Eligible Repurchase Month As defined in Section 3.11 hereof.

  • Eligible Repurchase Obligations Repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or trust company (acting as principal) described in clauses (c)(ii) and (c)(iv) of the definition of Permitted Investments.

  • Repurchase Value means the Fair Market Value in the event the award to be repurchased under Section 10.2 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market Value) in the event the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

  • Eligible Replacement means an entity (A) that satisfies the definition of Hedge Counterparty Ratings Requirement, set forth in Part 5(f)(ii) above or (B) whose present and future obligations owing to Party B are guaranteed pursuant to an Eligible Guarantee provided by a guarantor which satisfies paragraph (b) of the definition of Hedge Counterparty Ratings Requirement.

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Eligible Real Estate means Real Estate:

  • Qualified Equity Offering means the sale and issuance for cash by the Corporation to persons other than the Corporation or any of its subsidiaries after the Original Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination of such stock, that, in each case, qualify as and may be included in Tier 1 capital of the Corporation at the time of issuance under the applicable risk-based capital guidelines of the Corporation’s Appropriate Federal Banking Agency (other than any such sales and issuances made pursuant to agreements or arrangements entered into, or pursuant to financing plans which were publicly announced, on or prior to October 13, 2008).

  • Accelerated Repurchase Date shall have the meaning specified in Section 14(b)(i) of this Agreement.

  • Repurchase Period means a period of 90 consecutive days commencing on the date when the Optionee’s Service terminates for any reason, including (without limitation) death or disability.

  • Eligible Receivable means, at any time, a Receivable:

  • Failed Remarketing Condition—Purchased VRDP Shares means that the Liquidity Provider acquires and continues to be the beneficial owner for federal income tax purposes of any shares of a Series of VRDP Shares in connection with purchases made pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) on any Purchase Date, including shares of a Series of VRDP Shares that the Liquidity Provider continues to be the beneficial owner of for federal income tax purposes after the expiration or termination of the VRDP Shares Purchase Agreement.

  • Receivables Repurchase Obligation means any obligation of a seller of receivables in a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.

  • Failed Remarketing Condition—Unpurchased VRDP Shares means that a Beneficial Owner (other than the Liquidity Provider or its affiliates) continues to hold VRDP Shares, that were subject to a valid Tender, after any Purchase Date as a result of the failure by the Liquidity Provider for any reason to purchase such VRDP Shares pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) ("Unpurchased VRDP Shares"), until such time as all Outstanding Unpurchased VRDP Shares are (i) successfully Remarketed, (ii) purchased by the Liquidity Provider pursuant to the Purchase Obligation, or (iii) if not successfully Remarketed or purchased by the Liquidity Provider pursuant to the Purchase Obligation, the subject of a validly tendered Notice of Revocation (or any combination of the foregoing); and any Unpurchased VRDP Shares shall be deemed tendered for Remarketing until the earliest to occur of the foregoing events (i), (ii) or (iii) with respect to such Unpurchased VRDP Shares.

  • Repurchase Amount shall have the meaning set forth in Section 4.2 hereof.

  • Change of Control Repurchase Event means the occurrence of both a Change of Control and a Ratings Event.

  • Early Repurchase Date shall have the meaning specified in Section 3(d) of this Agreement.

  • Eligible Real Property means, as to each Borrower, Real Property owned by such Borrower in fee simple and included in an appraisal of such Real Property received by Agent in accordance with the requirements of this Agreement and in each case acceptable to Agent in good faith based on the criteria set forth below. Eligible Real Property shall not include: (a) Real Property which is not owned and operated by a Borrower; (b) Real Property subject to a security interest, lien or mortgage or other encumbrance in favor of any person other than Agent, except those permitted under Sections 9.8(b), (d) and (i) hereof; (c) Real Property that is not located in the United States of America; (d) Real Property that is not subject to the valid and enforceable, first priority, perfected security interest, lien and mortgage of Agent; (e) Real Property where Agent determines that issues relating to compliance with Environmental Laws materially adversely affect the value thereof or the ability of Agent to sell or otherwise dispose thereof (but subject to the right of Agent to establish Reserves after the date hereof to reflect such material adverse affect); (f) except as Agent may otherwise determine, Real Property improvements located on land which is not owned in fee simple by such Borrower; and (g) Real Property improved with residential housing. The criteria for Eligible Real Property set forth above may only be changed and any new criteria for Eligible Real Property may only be established by Agent acting in good faith based on either: (1) an event, condition or other circumstance arising after the date hereof, or (2) an event, condition or other circumstance existing on the date hereof to the extent Agent has no written notice thereof from any Borrower prior to the date hereof, in either case under clause (i) or (ii) which adversely affects or could reasonably be expected to adversely affect such Real Property in any material respect in the good faith determination of Agent.

  • Ineligible Receivable shall have the meaning specified in subsection 2.04(d)(iii).

  • Eligible Representations means those representations identified within the “Tests” included in Schedule B.

  • Treasury Portfolio Purchase Price means the lowest aggregate price quoted by a primary U.S. government securities dealer in New York City to the Quotation Agent on the third Business Day immediately preceding the Tax Event Redemption Date for the purchase of the Treasury Portfolio for settlement on the Tax Event Redemption Date.

  • Eligible revenue means the property tax increment and any

  • Reverse Repurchase Agreement means an agreement pursuant to which the Fund sells Securities and agrees to repurchase such Securities at a described or specified date and price.

  • Receivables Net Investment means the aggregate cash amount paid by the lenders or purchasers under any Permitted Receivables Financing in connection with their purchase of, or the making of loans secured by, Receivables Assets or interests therein, as the same may be reduced from time to time by collections with respect to such Receivables Assets or otherwise in accordance with the terms of the Permitted Receivables Documents (but excluding any such collections used to make payments of items included in clause (c) of the definition of Interest Expense); provided, however, that if all or any part of such Receivables Net Investment shall have been reduced by application of any distribution and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Repurchase As defined in Section 2.03(a) of this Agreement.